Welcome to overtime everybody I'm Scott Walker you just heard the bells we right here

just getting started we're waiting on Nordstrom earnings we'll bring you those

numbers and the color as soon as all of that happens critical earnings report

given what's going on right now in retail.

I'll also speak today to Star Venture Capitalist Rick Heightsman on what

snaps Shocker means for the rest of the social space. We do begin though with our talk of the tape,

the tug of war currently underway in this stock market.

What that means to your money, it was on full display yet again,

especially into the close today.

Let's ask the famed Wharton Professor Jeremy Siegel.

He is back with us today from Philadelphia.

Professor, welcome back to overtime.

It is nice to see you.

Nice to see you, Scott.

I do feel like we had an old-fashioned tug of war here especially

going into the clothes. Those who want to take the market higher even if it's a bare

market bounce and those who say we haven't gone down hard and fast enough to really justify where we are.

Yeah well you know the first three and a half four months of this year the decline

was because of the rise in interest rates. The recent weakness is what I call the numerator and that is

earnings because in the price of stocks is earnings over interest rates and you

know we've had that rise from the Fed and now there is for the first time

Concern about that earnings and by the way earlier today you know I look at the money supply as a very important indicator.

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